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Tag: N5

  • 14,529 Oyo households get N5, 000 monthly from Fed Govt 

    Fourteen thousand, five hundred and twenty-nine households in Oyo State have received N5,000 monthly under the National Conditional Cash Transfer Programme (NCCTP), National Coordinator Dr. Temitope Sinkaiye said yesterday.

    She told reporters in Saki East Local Government at the launch of the Integrated Management Information and Payment System that the beneficiaries were from 19 of the 33 local governments.

    Sinkaiye said the cash transferred to the 14,529 households had a multiplier effect on 48,591 members.

    She said each household got N10,000 bi-monthly for ease of coordination, effectiveness and reconciliation of the account.

    The coordinator said the programme would respond to deficiencies in capacity and lack of investment in human capital among poor and vulnerable households.

    She stressed that the programme focused on poor and vulnerable households, identified through geographic and community-based targeting mechanism.

    “From December 2016 to March 2018, eight payment circles have been carried out.

    “To date, 297, 973 benefiting households have been paid across 20 states listed below, with 1,427,056 household members benefiting from the cash transfers,” Sinkaiye said.

    News Agency of Nigeria (NAN) reports that NCCTP is moving its payment system from Mobile Money Operators to Integrated Management Information and Payment System, supervised by World Bank consultants.

    The system will capture beneficiaries’ activities from enrolment to livelihood endeavours.

    She said their data were being generated by Oyo State Operation Coordinating Unit for Youth Empowerment and Social Support Operation.

     

     

     

  • ‘FG’s N5000 stipend to poor Nigerians will reduce poverty’

    ‘FG’s N5000 stipend to poor Nigerians will reduce poverty’

    The Osun Government says the monthly payment of N5,000 by the Federal Government to vulnerable Nigerians will reduce poverty, crime and other social vices in the country.

    This is contained in a statement signed by Mr Semiu Okanlawon, the Director of Bureau of Communication and Strategy Office of the Governor, in Osogbo on Thursday.

    It said the Federal Government’s gesture, coupled with the Osun government monthly payment of N10,000 to vulnerable elderly persons in the state, would reduce hunger among the citizenry.

    The statement added that the implementation of the N-Power programme in which youths would be paid N30,000 monthly would reduce youth restiveness and kidnapping in the country.

    “It is germane at this stage to congratulate the federal government for the commencement of payment of monthly stipends to its successful applicants for the N-Power and the payment of monthly stipends of N5,000 to vulnerable but socially responsible poor in our society,” it said.

    The Osun government said it was also complementing the federal government’s fight against poverty and hunger by employing more than 20,000 youths under its Youth Employment Scheme.

    According to the statement, the state is also paying N10,000 monthly to 1, 602 vulnerable elderly persons while more than 252, 000 pupils in elementary public schools are being fed under the school feeding programme.

    It stressed that the nation’s many problems were not beyond redemption, adding that with the implementation of the social welfare programmes, Nigeria was on the path to recovery.

    The statement further urged the federal government to intensify efforts at achieving a nationwide implementation of the school feeding programme.

  • Presidency faults Fayose on N5,000 stipend for poor Nigerians

    Presidency faults Fayose on N5,000 stipend for poor Nigerians

    The Presidency on Wednesday disagreed with the claim of Ekiti State Governor, Ayo Fayose, on the disbursement of N5, 000 to poor Nigerians.

    The governor, whose state was listed as part of the nine states where the payments had commenced, denied the take off the scheme in his state.

    The governor said the report was untrue and diversionary.

    But speaking with State House correspondents at the end of the Federal Executive Council (FEC) meeting, the Special Adviser on Media and Publicity to the President, Femi Adesina, said the administration is built on integrity and accountability and will not claim to do what it is not doing.

    He said: “It was announced specifically from the office of the Vice President that the scheme has started in nine states. And then a certain governor came out to say it is not true.

    “It is just a matter of who do you believe. This is a government that is built on integrity and accountability. This government will not lie to Nigerians, does not lie to Nigerians, in fact anything you hear from this government you can take it to the bank, believe it.

    “So if anybody comes and say it is politics, it is not true. Choose who to believe I can tell you that you should believe this government because this government will not lie to you.”

     

     

     

  • Fed Govt begins payment of N5,000 monthly stipend in nine states

    Fed Govt begins payment of N5,000 monthly stipend in nine states

    The Federal Government has began payment of N5,000 monthly stipends to poor Nigerians in nine states.
    The Programme is part of the Conditional Cash Transfer (CCT) of the President Muhammadu Buhari’s administration’s Social Investment Programmes (SIP) for which N500 billion was appropriated in the 2016 Budget.
    Many beneficiaries were reported to have started receiving their first payments last week Friday in the nine states making up the first batch.
    The nine states, according to a statement by the Senior Special Assistant on Media and Publicity, Laolu Akande,are Borno, Kwara, Bauchi, Cross Rivers, Niger, Kogi, Oyo, Ogun and Ekiti.
    Of the nine states, he said that Borno, Kwara and Bauchi have started receiving the money while the rest of the states would commence the CCT payments soon.
    He said: “Funds for the commencement of the payments in four states were released last week to the Nigeria Inter-Bank Settlement System (NIBSS) – the platform that hosts and validates payments for all government’s social intervention programmes. Funds for another set of five states to complete the first batch of nine states would follow soon.
    “The sequence for the payment of the money would be operationally managed by NIBSS.
    “The nine pilot states were chosen because they have an existing Social Register that successfully identified the most vulnerable and poorest Nigerians through a tried and tested community based targeting (CBT) method working with the World Bank.
    “However other states have already begun developing their Social Registers and would be included in subsequent phases of the CCT implementation.” He added
    According to him, more beneficiaries of the CCT would be captured by the social registers already existing in 8 states.
    He said that the process was both transparent and credible.
    He said: “Beneficiaries of the Conditional Cash Transfer of the Federal Government would be mined from the Social Register, initially developed by 8 States through a direct engagement with the World Bank. Those states are featured in the first batch, with the added inclusion of Borno States where a validated list of IDPS were compiled in addition to the Social Register which is expected to go round the country.
    “Working with the World Bank, the CBT process has now been adopted for developing the Social Register in the other States around the country, for transparency, objectivity and credibility in the selection of the poorest and most vulnerable beneficiaries for the programme.
    “The Federal Government will actually commence community mobilization for the creation of the Register in more States soon, to expand the scope and reach of the CCT across the country”. He said
    He said states such as Plateau, Jigawa, Adamawa, Anambra, Benue, Enugu, Katsina and Taraba “have so far complied with the stipulated framework provided, and are set for the community based targeting method for the development of their Social Register within their jurisdictions.”
    The States, he said, are to be followed by Delta, Gombe, Kaduna, Kano, Imo and Ogun States.
    “Once the community mobilization, identification and selection processes are completed, the information garnered from the poorest households would be entered onto the Social Register in the states and the National Register at NIBSS, after which the cash transfers would be disbursed to the beneficiaries.
    “All the funds approved for the Federal Government’s Social Investment Programmes, SIP, are domiciled with the Ministry of Budget and National Planning. In addition, the payment information and processes for all beneficiaries of the Federal Government’s SIP are hosted at NIBSS, as the Consolidated Beneficiary Register, to ensure and fortify efforts at authentication and verification, as well as for effective and efficient programme management.” He said
    He recalled that the administration has also kicked off the N-Power programme where graduates numbering 200,000 were engaged and paid N30, 000 per month, National Homegrown School Feeding Programme and the Government Enterprise and Empowerment Programme, (GEEP).
    He said that payment had already begun in States like Abia, Adamawa, Bauchi, Delta, Imo, Kwara, Kano, Katsina, Lagos, Osun, Oyo, Ogun, Kogi States and the Federal Capital Territory, FCT.
    He said that the payment stopped temporary during the Yuletide but would be resumed soon.
    He said that the government is committed to touching more lives and get many homes out of poverty through the packages.
    He said: “Besides the CCT, the N-Power Volunteer Corps designed to hire half a million unemployed graduates which has now engaged 200,000, and the National Homegrown School Feeding Programme now running in three states, the Buhari administration has also kicked-off the Government Enterprise and Empowerment Programme, (GEEP).”

    “Under GEEP, soft loans ranging from N10,000 to 100,000 have been designed for artisans, traders, market women among others.
    “Already, thousands of cooperatives, market women associations, farmers and enterprising youths, have been identified and registered for the purpose, on an ongoing basis, and the disbursement of the soft loans through the Bank of Industry have started since Nov 25, 2016.
    “At the last count, for the first phase, beneficiaries have been drawn from the Federal Capital Territory, FCT, Abia, Adamawa, Bauchi, Delta, Imo, Kwara, Kano, Katsina, Lagos, Osun, Oyo, Ogun and Kogi States.
    “However, disbursements were halted and deferred until after the festive season. Vetting and approval of beneficiaries are now being continued through the month, with the expectation and plan that by month-end disbursements would have been made to 33,000 beneficiaries.
    “Regarding the 200,000 beneficiaries of the N-Power programme, close to 50% of the graduates, have now been physically verified, and started receiving their monthly stipends of N30,000 last week. A second batch of 300,000 unemployed graduates are expected to be selected early this year to make up the half a million target set by the Buhari administration.
    “The verified graduates are now being deployed to work as assistant teachers in schools, as community health aides and as agricultural extension workers, in more than 20 States of the Federation. These States include; Abia, Adamawa, Bauchi, Anambra, Benue, Cross Rivers, Borno, Gombe, Edo, Jigawa, Katsina, Plateau, Kogi, Osun, Rivers, Zamfara, Niger, Sokoto, Ogun and Taraba.
    “Government has also started the implementation of the National Home-grown School Feeding programme designed to feed 5.5 million school children for 200 school days in the first phase of the programme.
    “Although the initial design was to feed pupils in 18 States, funding challenges had affected an earlier take-off. But the programme has now commenced in Osun, Kaduna and Anambra States. More states are expected to join this new year.
    “In the new year, it is the plan of the Federal Government to scale up the implementation of the SIP to touch the lives of millions of Nigerians in fulfillment of it’s promises and in furtherance of its Change agenda” he stated.

  • N5,000 stipend for poor Nigerians still stands, says Presidency

    N5,000 stipend for poor Nigerians still stands, says Presidency

    The Presidency last  night insisted that the N5,000 stipend for poor stands.

    President Muhammadu Buhari was reported as saying that the promise —to hand the most vulnerable N5,000 cash— would not be kept while addressing the Nigerian community in Saudi Arabia last week.

    But the Senior Special Assistant on Media and Publicity, Laolu Akande, told State House correspondents that this year’s budget, which has been submitted to the National Assembly, allocated of half a trillion naira for such social investments.

    He also pointed out that President Muhammadu Buhari never promised to pay unemployed graduates N5,000.

    He said: “The budget for 2016, which has been submitted to the National Assembly, has made an allocation of half a trillion naira, the first time in the history of this country’s budget where you have that huge chunk of money allocated for social investment.

    “In that N500 billion, which is half a trillion naira, close to about 20 per cent of the entire budget, there are six social safety net programmes. And one of them is the conditional cash transfer where government is going to pay N5,000 monthly to the vulnerable and extremely poor Nigerians. That promise stands.

    “The President never promised to pay unemployed graduates N5,000; the President never made that promise and the government never made that claim that it will pay N5,000 to unemployed graduates.

    “The programme for unemployed graduates is the direct creation of half a million teaching jobs so that they will be trained; 50,0000 unemployed graduates will be trained to teach and they will be deployed to teach, while they are looking for their career paths or jobs. That still stands.

    “In addition to that, there is also a scheme to train 370, 000 non-graduate youths for skill acquisition and vocational training. During the time of that training, they will also be paid. So the President did not say that he would be giving unemployed graduates N5,000.”

    Akande added:: “The N5,000 monthly, which is already in the budget, is for the vulnerable Nigerians and the extremely poor, and this year, by the grace of God, once the budget is okay , one million extremely poor Nigerians will receive N5,000 monthly.”

     

  • Nigerians want Govt of massive wealth creation

    The proposed plan of Federal Government of Nigeria, led by President Muhammadu Buhari to commence payment of N5,000 Social welfare to about 25 million Nigerians, is a plan that must be critically and objectively looked into before anyone would begin to praise the government.

    It was widely reported in most of Nigerian dailies on Tuesday 8th of December that President Buhari has proposed N6.2 Trillions in 2016 budget, about N500 Billions of this budget, for the social welfare scheme.

    The question we must ask is that, is the idea of paying N5, 000 to each of the 25,000 million Nigerians a way forward for us as a country at this perilous time.

    If you visit any news stand in any part of Nigeria, the kind of discussions you’ll hear about this current government will amuse you, you will begin to wonder if we are indeed in a change era or shortchanged time, you will hear the opinion of people about this initiative of social welfare, many Nigerian tend to disagree with President Buhari on many of his policies and his style of governance.

    Many people do not want how the nation was mismanaged by the past administrations since the inception of democracy but wants a “CHANGE” in terms of clear economy revamping policy direction not tokenism as proposed by Buhari government.

    My own opinion is that instead of government of tokenism, it should be government of massive wealth creation. Government can create more millionaires with the N500 Billion voted for tokenism in the budget.

    One will wonder the yardstick Buhari government intend to use in determining those who are vulnerable in Nigeria, does government already have the records of these people, what method do government plan to use in capturing their details, and how would government identify genuine people who really need the money, is the programme sustainable, how far can it go and is there any exit plans? There are lots of questions one should begin to ask about how government intent to implement the tokenism system called social welfare scheme and to what effect.

    Nigeria actually needs wealth creation system and not tokenism.

    What government plans to do is not so different from the Almajiri system in the Northern Nigeria where people are used to monies from other people without wanting to work or incapacitated to work.

    Nigeria is not a soviet or communist state where citizen must depend on Government for money to survive, the business of government is provision of basic infrastructures and economic policies that will encourage businesses to thrive, even in US and other countries where they practice welfare system; it’s really not yielding any meaningful results for them.

    A country must have been developed to a certain level before a thing such as social welfare is introduced. Government by so doing will be encouraging laziness, social unrest, and emotional distrust among families.

    Amidst the dwindling oil price without any concrete diversification and lean economy strength, the little money left should be channeled into programmes that can assist the country recover from its financial crises, placing token in the hands of percentage of people every month will turn Nigeria to a Lazy beggar nation and this will greatly damage the country.

    President Buhari can use the N500 Billion to power an initiative like YOUWIN embarked upon by the Ex-President Jonathan administration and properly monitor it.

    A programme like the YOUWIN will target poor youths from every parts of Nigeria, when these people are given opportunities and training with grants from the programme, wealth will be created, productions will kick off, export will kick off (GDP), more people will be employed because government cannot employ everyone.

    Let us be practical here, if Buhari administration pick up a son or a daughter of a poor man, train them in any area of their talent or acquired skills, give them grants to support their talent, such person will begin to make more money as times goes on and will be able to feed, clothe and shelter his or her parents, they will be able to cater for their parents better than the N5, 000 token government intends to hand over to them or their parents.

    Government should not be too ashamed to look at implementing a better programme or modify their campaign promises for effectiveness. If they should go ahead to implement the N5,000 tokenism called Social Welfare scheme, it will amount to waste and damage to the reputation of Nigeria as a beggar, the implication is that government will waste about N2 Trillions in four years and people will still remain poor and beggars. When people wait for crumbs from government it means they have practically become beggars.

    Nigerian government both at States and Federal should not waste hard earn tax payers money to embark on a project or programme that will not yield any meaningful result in the end, even if the plot of government is to “Bribe” people with the money for past or future electoral gains, people will still lament and complain as time goes on that what can the money “N5,000” do in their lives. Government should teach people how to fish and not fish for people to eat.

    Nigeria is blessed with massive human and natural resources, we should use them to create wealth and enrich our people. The youths need jobs, civil unrest, security threats, threat of disintegration and Boko Haram Killings should be urgently looked into.  Nigerians should be taken out of darkness with provision of electricity, our roads are death traps and should be fixed, we need better foreign reputation, relationship and policies with great economy directions.

     

    Adelaja Adeoye is a blogger and social/political commentator

    He writes from Lagos Nigeria.

  • Advocates, opponents of N5,000 note

    Advocates, opponents of N5,000 note

    •Gen. Olusegun Obasanjo

    “The way Sanusi was fighting inflation by removing money from circulation was improper…, as this approach would kill production and affect small businesses negatively.”

    •Gen. Yakubu Gowon

    “The production of the N5,000 by the CBN will surely cause devaluation of the country’s naira.”

    •Alhaji Aliko Dangote

    “I think it is even to protect the economy. The cost of printing is not anything different from the amount they are using in printing any other note. It is the same cost.”

    • Information Minister Labaran Maku

    “I believe we should allow CBN to have leadership on this issue. This is not an opinion poll debate but a technical matter and the heated debate will not help in the management of our economy.”

    •Sanusi Lamido Sanusi

    “We are in an interesting country because my uncle or my father, who is our former Head of State, Gen. Obasanjo, you know he is a very successful farmer, but he is a very bad economist. He says that this higher denomination will cause inflation and improve hardship.

    “Gen. Obasanjo did N20, he did N100, N200, N500 and N1,000. He introduced higher denominations in Nigeria than any other head of state. He did a N100 note in 1999, he did N200 in 2000, he did N500 two years later and in that period inflation was coming down because it was accompanied by prudent fiscal and monetary policy.

    “For somebody (Obasanjo) who had done this to stand up and say introducing a higher denomination will cause inflation must be an empirical, most important determinant of inflation in our country given the number of notes he had printed.”

    • Managing Director, IRIS Consulting, Richard Obire

    “The policy may spur demand for wage increase. CBN is further devaluing the naira as there is a direct relationship between higher bank notes and devaluation.”

    •NLC Vice-President Issa Aremu

    “The policy would raise inflation and further pauperise the common man. It also contradicts CBN’s cash-less policy and raise corruption level in the country.”

    Chairman, Senate Committee on Banking Bassey Otu

    “This type of action is only taken where there is a major currency crisis and the CBN must be careful not to send a wrong signal to households or the domestic sector, or even the external economies that the Nigerian currency is valueless, which, I believe is definitely not and that for every unit of value, they need to carry a large quantity of cash.”

    •NBA President Okey Wali

    “The introduction of the N5,000 note should not be imposed on Nigerians.”

    •Atedo Peterside

    “Money is a store of value. All these thieves, rogues and vagabonds running around various states and all over the country when they steal money will want to keep it outside the banking system, so they need higher denomination notes.”

    •Hon. Jones Onyereri

    “The House would not support any policy that would further impoverish Nigerians.”

  • N5, 000 banknote: Senators, Reps plan showdown with Sanusi

    N5, 000 banknote: Senators, Reps plan showdown with Sanusi

    A  show down is looming between the National Assembly and the Governor of the Central Bank (CBN), Mallam Sanusi Lamido Sanusi over his insistence to introduce the N5000 banknote.
    The two chambers are due to resume from their annual recess on Tuesday with members determined to stop the introduction of the new banknote.
    Influential members of the Senate and the House of Representatives are said to have been meeting to strategise on their move following the pronouncements of the CBN governor to forge ahead with the plan and his description of critics of the banknote as bad economists.
    It was gathered that the NASS members are likely to first approach President Goodluck Jonathan to prevail on Mallam Sanusi to have a rethink on the policy.
     The lawmakers, one source said, are angry that in spite of the opposition to the new note, the CBN is pressing ahead with its proposal to introduce the larger bill and convert the N20, N10 and N5 bills into coins as from 2013.
    According to findings, the Senators and Reps met in Abuja last Wednesday and Thursday and resolved that their position on the matter has been strengthened by a recent survey conducted by the National Bureau of Statistics (NBS).
    The survey confirmed that 75.1 per cent of Nigerians are opposed to the currency restructuring. Only 16.1 per cent of the populace are in strong support of the CBN policy while 4.04 and 4.62 per cent are partially in support and against the currency restructuring policy respectively.
    The anti-N5000 banknote federal lawmakers resolved to make the new note a major issue upon resumption from recess.
    A source at the meetings said: “We have met and concluded that since the new note is unpopular, we will ask the CBN to stop the minting of the new currency.
    “We won’t be part of any policy that will lead to inflation because the consequences will be too much for the economy. In a country, where people live on less than $2 in a day, it is not ideal at all.
    “Definitely, we will overrule the CBN on this policy which is a contradiction of the cashless policy of the government.”
     A principal officer of the House said: “Some of us have been meeting because the NBS survey has shown that it is not a popular policy. The economy is better run based on the interest of the citizenry.
    “Why will a good government go against the popular wish of all Nigerians? We want to lay the card on the table on why the new note policy is ill-timed.”
    A Senator from the South-East said: “Most of us prefer mass employment to minting of new notes. There is no point having a higher note without empowering Nigerians to spend it.
    “The cost of producing the new note and coins, whether locally or abroad, can provide many jobs. This is a question of opportunity cost.”
    On his part, a high-ranking Senator added: “Some of us are trying to prevail on the leadership of the National Assembly to hold dialogue with President Goodluck Jonathan to reverse the policy because it will hurt the economy.
    “We want to try as much as possible to avoid a fresh row with the Executive. But if the President does not listen, we will pitch our tent with the masses.”

  • Students reject N5,000 note

    Students have risen against the plan of the Central Bank of Nigeria (CBN) to introduce the N5000 note next year. According to them, the action will make life uneasy for them. They spoke to  (Oyo State Corps member).

     

     

    LIKE many of their countrymen, students are kicking against the planned introduction of the N5000 note next year by the Central Bank of Nigeria (CBN). Two weeks ago, CBN Governor Lamido Sanusi spoke of a planned restructuring the naira, saying the introduction of the N5000 note would facilitate the cashless policy which came into being nine months. But those opposed to the proposed N5000 note are claiming that it would negate the policy and also lead to inflation. Students align themselves with this argument, saying that the proposed note would make tertiary education unaffordable for many.

    “The only sense I can make of the CBN’s resolve to introduce another currency is corruption. How can they introduce N5,000 note when they know that each time a new currency is introduced into the economy, the people come out more impoverished?” asked Dayo Olajide, 300-Level student of Obafemi Awolowo University (OAU), Ile-Ife, Osun, State.

    “The policy could lead to an increase in money laundering and armed robbery. I am very sure that the prices of all commodities would be inflated as well. As a student, there are destinations we pay N20 or N30 as transport fare. But when the smaller notes are converted to coins, naturally there will be a tendency that the prices of the fare will increase to by over 100 per cent because Nigerians have this negative attitude about coins.”

    Mojirola Adeniran, who just finished from the University of Ilorin (UNILORIN), said: “The introduction of N5,000 note will not only devalue Naira but will also diminish the quality of life in Nigeria as the policy is in favour of the rich. In short, I can describe the proposed note as the currency of the affluent because I don’t see how a commoner would benefit from it. I personally have misgivings about the initiative because of the N40 billion they want to use in print the new notes could be use to tackle unemployment and standardise our education. Even water, power and health sectors could benefit from the money.”

    To Gbolahan Bolaji, 500-Level Agriculture Engineering, Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, the policy makers may have study the wrong economics. “The higher the currency denomination, the higher the inflation figures. The fact that CBN wants to spend a huge amount of money to print the new note shows how profligate our leaders could be. The United States (US), of America, which economy is developed has $100 as the highest denomination. The question I keep asking myself is that why shouldn’t our leaders learn from the fiscal reforms of a country, such as Ghana? Well the present situation in Nigeria shows that developing economies, such Ghana’s are made possible by thinkers and not greedy and self-centered leaders like ours.”

    Imoleayo Olawuyi, 400-Level Computer Science, UNILORIN, said: “It is uncalled for because the economy of Nigeria does not require introduction of a higher denomination.” This will make the lower currencies lose their value and the condition of students would be worsened by the policy. I want to add that the initiative and its timing are wrong.”

    Temidayo Bamigboye, 200-Level Human Kinetics and Health Education, University of Ibadan (UI), said the introduction of the note would lead to an increase in unemployment. In her words, “The N40 billion that would be wasted in printing the new note could be used for poverty alleviation programmes or invested to revive NITEL and national hospitals. I don’t see how I will benefit from it as a student because it will hurt the pocket of my parents and even make me to redesign my feeding formula.”

    The planned N5,000 note is coming to do more harm than good, said Modupeoluwa Fadipe, a Corps member serving in Ibadan, the Oyo State capital. She said: “The currency is for the rich. They don’t consider the poor people, who are in the majority. There will definitely be an increase in the prices of goods and services even with scarcity of abundant resources.”

    Eyitayo Olorode, HND 1 Mass Communication student of The Polytechnic, Ibadan, has a different view. He said: “To me, two things are involved in the planned introduction of the N5,000 note by the apex bank. First, it will enhance the cashless policy of the Federal Government as it will drastically reduce the volume of money one travels with. Second, business transactions would become so easy. I implore my fellow students to be patient and give our leaders the benefit of the doubt as the CBN tries to implement this new policy.”

    Another Corps member, Emmanuel Omolaja, said: “The planned N5000 note is a reform I believe should be embraced by all. I want charge the government to intimate the public, especially low-income earners, on the policy through awareness.”